LAW OF THE REPUBLIC OF KAZAKHSTAN

of January 16, 2026 No. 259-VIII ZRK

About modification and amendments in some legal acts of the Republic of Kazakhstan concerning regulation and development of the financial market, communication and bankruptcy

Article 1. Make changes and additions to the following legal acts of the Republic of Kazakhstan:

1. In the Civil code of the Republic of Kazakhstan (General part) of December 27, 1994:

Part one of Item 3 of Article 3 to state 1) in the following edition:

"3. The relations connected with creation, reorganization, bankruptcy and liquidation of banks and cereal-receiving companies, control of banking activity and its audit inspection, control of activities of the cereal-receiving companies, licensing of banking activity, settlement of banks, approach of effects of deprivation of the banking license, implementation of transactions with warehouse certificates of the cereal-receiving companies are regulated by this Code in the part which is not contradicting the legal acts regulating banking activity and activities of the cereal-receiving companies.";

2) Item 1 of Article 128-1:

after the words "derivative financial instruments" to add with words ", digital financial assets";

add with part two of the following content:

"The financial instrument can be issued in electronic and digital form according to provisions of the Law of the Republic of Kazakhstan "About digital assets in the Republic of Kazakhstan".";

Part third of Item 3 of Article 129 to add 3) with words ", including in electronic and digital form".

2. In the Civil code of the Republic of Kazakhstan (Special part) of July 1, 1999:

1) in Article 406:

to add Item 2 after the word of "values" with the words "and digital financial assets";

in Item 2-1 of the word "Islamic bank when implementing of banking activity by it" shall be replaced with words "when implementing Islamic banking activities";

Item 1-1 of Article 727 to state 2) in the following edition:

"1-1. Under the agreement of bank loan signed when implementing Islamic banking activity, the loan of money is performed on the terms of urgency and recoverability and without collection of remuneration for use of money.";

Part third of Item 1 of Article 740 to add 3) with the subitem 11) of the following content:

"11) on the money and (or) securities of banks in the central depositary and (or) the clearing organization intended for ensuring completeness of calculations for the interbank payments and (or) money transfers made in the territory of the Republic of Kazakhstan with use of payment cards.";

Part the second Article 741 to add 4) with subitem 5-4) of the following content:

"5-4) on the money and (or) securities of banks in the central depositary and (or) the clearing organization intended for ensuring completeness of calculations for the interbank payments and (or) money transfers made in the territory of the Republic of Kazakhstan with use of payment cards;";

Part the second Article 751 to state 5) in the following edition:

"Amount of remuneration for use of the money placed on the current bank account cannot exceed one annual interest rate.";

6) in Item 1 of Article 754 and Article 755 of the word to "order" to replace "order" respectively with words to "specifying", "specifying";

Shall be replaced with words 7) in Item 2-1 of Article 759 of the word of "measures for settlement of the bank referred to category of insolvent banks" "instruments of settlement";

8) in Item 3 of Article 760 of the word of "measures for settlement of the bank referred to category of insolvent banks" shall be replaced with words "instruments of settlement";

The subitem 2) of Item 7 of Article 765 to state 9) in the following edition:

"2) the provided Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan", for the mode of recovery of financial stability or the mode of settlement of bank or in case of deprivation of bank of the license.";

Item 4-1 of Article 830 to state 10) in the following edition:

"4-1. Secret of insurance can be revealed to the financial ombudsman according to the appeals of the physical persons and legal entities on dispute settlement arising from insurance contracts which are at it under consideration.";

11) in Article 839:

in Item 7 of the word to "the insurance ombudsman for settlement of disagreements" shall be replaced with words to "the financial ombudsman for dispute settlement";

in Item 8 of the word "the insurance ombudsman" shall be replaced with words "the financial ombudsman";

Item 2 of Article 840 to add 12) with words ", and also the requirements established by the Law of the Republic of Kazakhstan "About insurance activity";

13) in Item 2 of Article 842:

the second after words "the Law of the Republic of Kazakhstan "On compulsory insurance of the worker from accidents in case of execution of labor (office) obligations by it" to add part with words ", and also the insurance contract specified in part three of this Item";

add with part three of the following content:

"In case of refusal of the insurer - physical person from the insurance contract connected with the loan agreement within the term provided by part two of this Item, the creditor has the right to review conditions on the loan agreement regarding remuneration rate under this agreement and (or) the related commission. The remuneration rate size (the size of the commission) on the loan agreement by results of review cannot exceed rate of remuneration (commission) operating for date of the conclusion of such loan agreement without condition of the conclusion of the insurance contract.";

third after the words "the insurer shall" add part with the words "within five working days from the moment of receipt of the declaration of avoidance of the insurance contract from the insurer-physical person".

3. In the Land code of the Republic of Kazakhstan of June 20, 2003:

in parts one and third Item 6 of Article 92 of the word "Item 8 of Article 61-4" shall be replaced with words "Item 2 of Article 132".

4. In the Entrepreneurial code of the Republic of Kazakhstan of October 29, 2015:

1) the subitem 3) of part two of Item 3 of article 82 after words of "banking conglomerates" to add with words "providers of services of digital assets, except for providers of services of digital assets - members of the International financial center "Astana",";

2) Item 11 of article 129 after words "the financial organizations," to add with words "self-regulatory organizations in the field of microfinancial activities, self-regulatory organizations in the field of collection activities,";

Article 139 to add 3) with subitem 11-1) of the following content:

"11-1) for payment service providers, operators and the operational centers of payment systems and in the field of the legislation of the Republic of Kazakhstan on payments and payment systems;";

Item 5 of Article 283-1 to add 4) with the subitem 15) of the following content:

"15) the activities connected with turnover (address) of digital financial assets.".

5. In the Code of civil procedure of the Republic of Kazakhstan of October 31, 2015:

Part 1-1 of Article 27 to state 1) in the following edition:

"1-1. Specialized interdistrict economic courts also consider cases on debt restructuring, rehabilitation and bankruptcy of individual entrepreneurs and legal entities, and also their liquidations without initiation of bankruptcy proceedings.";

Paragraphs of the first and second part two of Article 155 to state 2) in the following edition:

"2. Taking measures is not allowed to providing the claim concerning the bank which is in the settlement mode.

Taking measures is not allowed to providing the claim concerning suspension of action of the disputed legal act adopted by authorized body on regulation, control and supervision of the financial market and the financial organizations or National Bank of the Republic of Kazakhstan within the competence, on suspension of action and (or) deprivation of licenses and (or) appendices to them on implementation of activities in the financial market, its written instructions, and also the disputed legal act adopted by authorized body on regulation, control and supervision of the financial market and the financial organizations or National Bank of the Republic of Kazakhstan within the competence, on application of measures of supervising reaction (except referral measures of supervising reaction), about application to bank, bank branch - the nonresident of the Republic of Kazakhstan of the modes of the strengthened supervision, recovery of financial stability, about application to bank of the mode of settlement and instruments of settlement according to the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan".";

3) in Article 156 part one:

1) after words "the Law of the Republic of Kazakhstan "On recovery of solvency and bankruptcy of citizens of the Republic of Kazakhstan" to add subitem paragraph two with words ", on the money and (or) securities of banks in the central depositary and (or) the clearing organization intended for ensuring completeness of calculations for the interbank payments and (or) money transfers made in the territory of the Republic of Kazakhstan with use of payment cards";

5) to state the subitem in the following edition:

"5) suspension of action of the disputed legal act of state body, local government body (except for the legal act adopted by authorized body on regulation, control and supervision of the financial market and the financial organizations or National Bank of the Republic of Kazakhstan within the competence, on suspension of action and (or) deprivation of licenses and (or) appendices to them on implementation of activities in the financial market, its written instructions, and also the legal act adopted by authorized body on regulation, control and supervision of the financial market and the financial organizations or National Bank of the Republic of Kazakhstan within the competence, on application of measures of supervising reaction (except referral measures of supervising reaction), about application to bank, bank branch - the nonresident of the Republic of Kazakhstan of the modes of the strengthened supervision, recovery of financial stability, about application to bank of the mode of settlement and instruments of settlement according to the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan");";

Part third of Article 160 to exclude 4);

Part the second Article 240 to exclude 5);

The subitem 6) of Article 243 to exclude 6);

The subitem 9) parts one of Article 302 to exclude 7);

To exclude Chapter 41.

6. In the Administrative procedural Procedure Code of the Republic of Kazakhstan of June 29, 2020:

1) in the paragraph the second Article 69 part three:

exclude the words "and also";

words "implementation of accounting registration of currency agreements, the notification on foreign bank accounts and accounting registration of such accounts" shall be replaced with words "assignments of accounting numbers to currency agreements, submissions of data according to foreign bank accounts, international financial institutions and assignments of accounting numbers by it";

The subitem 2) of Article 96 to state 2) in the following edition:

"2) the administrative act adopted by authorized body on regulation, control and supervision of the financial market and the financial organizations or National Bank of the Republic of Kazakhstan within the competence, on exception of the corresponding registers and suspension of action and (or) deprivation of licenses and (or) appendices to them on implementation of activities in the field of digital assets and in the financial market, its written instructions, the administrative act adopted by authorized body on regulation, control and supervision of the financial market and the financial organizations or National Bank of the Republic of Kazakhstan within the competence, on application of limited corrective actions and measures of supervising reaction (except referral measures of supervising reaction), about application to bank, bank branch - the nonresident of the Republic of Kazakhstan of the modes of the strengthened supervision, recovery of financial stability, about application to bank of the mode of settlement and instruments of settlement, and also administrative acts of the bodies of the state audit and financial control connected with the elicited facts of inappropriate and unreasonable use of budgetary funds before adoption of the relevant decision;".

7. In the Social code of the Republic of Kazakhstan of April 20, 2023:

Subitem 123-1) of Article 1 to state 1) in the following edition:

"123-1) faultless goodwill - professionalism and conscientiousness of person, confirmable including lack of the facts:

making by the specified person of illegal actions (failure to act) which resulted in the insolvency which entailed involuntary liquidation of the financial organization or to application to bank of the mode of settlement;

not removed or unspent conviction of the specified person, including lack of the court resolution which took legal effect about application to person of criminal penalty in the form of deprivation of the right to hold leading employee position of the financial organization, bank and (or) insurance holdings and to be the large member (large shareholder) of the financial organization for life;

availability of the relations with the third parties (control and influence of the third parties) whose actions promoted legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction based on data of authorized body on financial monitoring;";

2) in the subitem 2) of Item 5 of Article 40 of the word "the terms established" shall be replaced with words "the term established";

The subitem 10) of item 4 of article 52 after words "connected" to add 3) with the words "with investments into alternative tools";

5) of item 4 of Article 55 of the word "payments or in connection with implementation by it" shall be replaced with words 4) in the subitem "payments, and also in connection with implementation of supervising functions or";

Article 59 to add 5) with part three of the following content:

"The single accumulation pension fund, the Voluntary accumulation pension fund in case of appointment of workers to position of Chapter risk management, the division manager of internal audit, the chief compliance controller independently check them for compliance to the requirements established by regulatory legal act of authorized body on the regulation, control and supervision of the financial market and the financial organizations specified in part two of this Article.";

Article 63 to state 6) in the following edition:

"Article 63. Leading employees of the single accumulation pension fund, Voluntary accumulation pension fund

1. Leading employees of the single accumulation pension fund, Voluntary accumulation pension fund are recognized:

1) head and members of governing body;

2) head and members of executive body;

3) chief accountant and deputy chief accountant;

4) the other persons who are exercising coordination and (or) control of activities of one or several structural divisions of the single accumulation pension fund, the Voluntary accumulation pension fund and having right to sign of the documents submitted to authorized body on regulation, control and supervision of the financial market and the financial organizations according to regulatory legal acts of authorized body on regulation, control and supervision of the financial market and the financial organizations;

5) the other persons recognized as leading employees of the single accumulation pension fund, Voluntary accumulation pension fund with use of motivated judgment of authorized body on regulation, control and supervision of the financial market and the financial organizations.

The first heads, chief accountants and deputy chief accountants of separate divisions of the single accumulation pension fund, Voluntary accumulation pension fund are not leading employees of the single accumulation pension fund, Voluntary accumulation pension fund.

2. Requirements to leading employees of the single accumulation pension fund, the Voluntary accumulation pension fund, and also procedure for their approval are stipulated in Clause 9-4 Laws of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations".";

Item 5 of Article 256 to state 7) in the following edition:

"5. In case of default of debt on social assignments, compulsory pension contributions, compulsory pension contributions of the employer, participant lists of system of compulsory social insurance for benefit of which the debt on social assignments, or physical persons for benefit of which the debt on compulsory pension contributions, compulsory pension contributions of the employer, compulsory professional pension contributions is collected is collected are represented to compulsory professional pension contributions to the body of state revenues which sent the notification, the payer or the agent within fifteen working days from the date of delivery to it notifications.".

8. In the Budget code of the Republic of Kazakhstan of March 15, 2025:

Chapter 4 to add 1) with Article 17-1 of the following content:

"Article 17-1. Features of the state participation in settlement of systemically significant bank

1. The government of the Republic of Kazakhstan has the right to participate in settlement systemically of significant banks according to the bank law of the Republic of Kazakhstan in the way:

1) implementation of the state investment projects directed to settlement of systemically significant banks by share acquisition of systemically significant bank which is in the settlement mode or shares of stabilization bank to which assets and liabilities systemically of the significant bank which is in the settlement mode are transferred (further - the state investment project directed to settlement of systemically significant bank);

2) provisions of the state guarantee of the Republic of Kazakhstan on loans for settlement of systemically significant bank as ensuring obligation fulfillment on loan of final instance of systemically significant bank or stabilization bank to which assets and liabilities systemically of significant bank will be transferred.

2. The state investment project directed to settlement of systemically significant bank is implemented based on the decision of the Government of the Republic of Kazakhstan on acquisition by the Government of the Republic of Kazakhstan or to the national managing director of holding of shares of systemically significant bank which is in the settlement mode or shares of stabilization bank to which assets and liabilities systemically of the significant bank which is in the settlement mode, in the cases provided by the bank law of the Republic of Kazakhstan will be transferred.

In case of implementation of the state investment project directed to settlement of systemically significant bank observance of the following requirements is provided:

1) provision of the complete information by authorized body on regulation, control and supervision of the financial market and the financial organizations about the measures taken by it before decision making about application to systemically significant bank of the mode of settlement;

2) shares of systemically significant bank or stabilization bank to which assets and liabilities systemically of the significant bank which is in the settlement mode will be transferred are acquired by the Government of the Republic of Kazakhstan or the national managing director of holding at the expense of means of the republican budget and (or) other public funds;

3) in case of alienation by the Government of the Republic of Kazakhstan, the national managing director of holding of shares of systemically significant bank or shares of stabilization bank to whom assets and liabilities systemically of significant bank were transferred the received means are subject to transfer in the republican budget.

Alienation by the Government of the Republic of Kazakhstan, the national managing director of holding of shares of systemically significant bank or stabilization bank to which assets and liabilities systemically of significant bank were transferred is not allowed, at cost their acquisitions taking into account the target reference points on inflation established by National Bank of the Republic of Kazakhstan for the period, preceding year of alienation of the specified shares, except as specified when the loss which resulted from alienation of such shares is subject to compensation according to the procedure, the stipulated in Clause 100 Laws of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" are lower.

The procedure for implementation of the state investment projects directed to settlement of systemically significant bank, and also monitoring of implementation of such state investment projects are determined by authorized body by regulation, control and supervision of the financial market and the financial organizations together with National Bank of the Republic of Kazakhstan in coordination with the central authorized body on budget policy, the central authorized body on budgetary planning and the central authorized body on budget implementation.

3. The state guarantee on loans for settlement systemically of significant bank is the obligation of the Government of the Republic of Kazakhstan to National Bank of the Republic of Kazakhstan to completely repay the debt on loan of final instance systemically of significant bank or stabilization bank to which assets and liabilities systemically of significant bank will be transferred.

Provision of the state guarantee on loans for settlement of systemically significant bank is performed based on the order of the Government of the Republic of Kazakhstan by the central authorized body on budget implementation.

4. Provisions and requirements of Chapter 28 of this Code do not extend to systemically significant bank which is in the settlement mode and stabilization bank to which the assets and liabilities systemically the significant bank which is in the settlement mode applying for receipt of the state guarantee for settlement of systemically significant bank are transferred.

Provisions and requirements of Chapter 29 of this Code do not extend to the state investment projects directed to share acquisition of systemically significant bank which is in the settlement mode and shares of stabilization bank to which assets and liabilities systemically of the significant bank which is in the settlement mode are transferred.";

Items 6 and 7 of Article 71 to state 2) in the following edition:

"6. Amounts of repayment and servicing of loans are predicted and join in the budget statement according to Chapter 28 of this Code, except as specified, of stipulated in Article 17-1 of this Code.

7. The state investment projects are planned and join in the budget statement according to Chapter 29 of this Code, except as specified, of stipulated in Article 17-1 of this Code.";

The paragraph the eleventh item 4 of Article 86 to state 3) in the following edition:

"limit of provision of the state guarantees of the Republic of Kazakhstan, except as specified, stipulated in Article 17-1 of this Code;".

9. In the Law of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan":

1) in Article 8:

add with subitem 3-3) of the following content:

"3-3) is the single issuer of digital tenge;";

10) to state the subitem in the following edition:

"10) is provided by asset management in foreign currency, precious metals and digital assets;";

20) to add the subitem with the paragraph the fourth the following content:

"on dealer activities in the market of digital assets - transactions on exchange, purchase and (or) sale of unsecured digital assets to operators of exchange of unsecured digital assets which exclusive type of activity is implementation of exchange transactions with unsecured digital assets;";

in subitem 24-2) of the word "currency, and" shall be replaced with words "currency, providers of services of digital assets, except for providers of services of digital assets - members of the International financial center "Astana", issuers of the digital financial assets provided by the subitem 1) of article 5 of the Law of the Republic of Kazakhstan "About digital assets in the Republic of Kazakhstan" and also the participants of specific mode of regulation of National Bank of Kazakhstan performing activities in the field of digital assets";

add with subitem 24-4) of the following content:

"24-4) applies risk - the oriented approach within control and supervision of activities of providers of services of digital assets, except for providers of services of digital assets - members of the International financial center "Astana";";

in subitem 38-4) of the word "develops and" to exclude;

add with subitems 38-5), 38-6), 38-7) and 38-8) of the following content:

"38-5) exercises state regulation, control and supervision of activities of operators of exchange of unsecured digital assets, operators of platform of digital financial assets, operators of trade platform of digital assets, the organizations for storage of underlying asset of digital financial asset;

38-6) approves the regulatory legal acts obligatory for execution of exchange of unsecured digital assets by operators, operators of platform of digital financial assets, operators of trade platform of digital assets, the organizations for storage of underlying asset of digital financial asset and issuers of the digital financial assets provided by the subitem 1) of article 5 of the Law of the Republic of Kazakhstan "About digital assets in the Republic of Kazakhstan";

38-7) determines procedure for carrying out transactions by purchase, sale and (or) exchange of unsecured digital assets of the operator of exchange of unsecured digital assets;

38-8) performs accounting registration of operators of platform of digital financial assets, operators of trade platform of digital assets, payment institutes;";

2) in Item 2 of Article 15:

9) and 17) to state subitems in the following edition:

"9) asset managements in foreign currency, precious metals and digital assets, and also on their transfer to external management;";

"17) licensing of activities of the legal entities performing the activities only through exchange points, legal entities whose exclusive activities is collection of banknotes, coins and values, operators of exchange of unsecured digital assets, and also accounting registration of payment institutes, operators of platform of digital financial assets and operators of trade platform of digital assets in National Bank of Kazakhstan;";

in the subitem 23):

shall be replaced with words the word of "choice" "and also the choice";

add with words ", except for the affiliated organization of National Bank of Kazakhstan which exercises asset management of portfolios of alternative tools, transferred by it to the control National Bank of Kazakhstan";

add with subitems 27-1), 27-2), 27-3) and 27-4) of the following content:

"27-1) implementation of activities of operators of platform of digital financial assets, operators of trade platform of digital assets, the organizations for storage of underlying asset of digital financial asset and issuers of digital financial asset concerning the digital financial assets provided by the subitem 1) of article 5 of the Law of the Republic of Kazakhstan "About digital assets in the Republic of Kazakhstan" and procedure for their interaction;

27-2) releases, placements, turnover (address) and repayment of the digital financial assets provided by the subitem 1) of article 5 of the Law of the Republic of Kazakhstan "About digital assets in the Republic of Kazakhstan", their uses and carrying out payment under transactions with them;

27-3) implementation of activities of operators of exchange of unsecured digital assets;

27-4) submissions of the reporting by operators of exchange of unsecured digital assets;";

Article 32 to state 3) in the following edition:

"Article 32. Reserve requirements

For the purpose of monetary policy implementation the National Bank of Kazakhstan establishes standard rates of the minimum reserve requirements applied to:

to banks;

to branches of banks - nonresidents of the Republic of Kazakhstan;

to the organizations which are performing separate types of banking activities, having the right to perform acceptance of deposits, opening and maintaining bank accounts of physical and (or) legal entities and having access to transactions of National Bank of Kazakhstan;

To the national operator of mail.

The National Bank of Kazakhstan approves rules about the minimum reserve requirements by which are determined:

structure of obligations assumed for calculation of the minimum reserve requirements;

procedure of payments of the minimum reserve requirements, accomplishment of the minimum reserve requirements, reservation and control of accomplishment of the minimum reserve requirements;

features of standard rates of the minimum reserve requirements applied to the National operator of mail. Such features are applied under condition if hundred percent of the block of shares of the National operator of mail directly or indirectly belong to the state.

Change of standard rates of the minimum reserve requirements becomes effective not earlier than in month from the date of adoption of such decision.

In case of violation of the minimum reserve requirements of person, specified in part one of this Article, bear the responsibility established by the laws of the Republic of Kazakhstan.

Within ten calendar days from the date of appointment of the chairman of liquidation commission the National Bank of Kazakhstan returns to liquidation commission of person specified in the parts one of this Article reserved at it means.";

Chapter 7 to add 4) with Article 47-2 of the following content:

"Article 47-2. Digital tenge

The digital tenge is digital form of national currency of the Republic of Kazakhstan and legal means of payment.

Digital tenges of National Bank of Kazakhstan are unconditional obligations of National Bank of Kazakhstan and are provided with all its assets.

Release, the organization of the address and repayment of digital tenges in the territory of the Republic of Kazakhstan are performed by exclusively National Bank of Kazakhstan.

The procedure for the address of digital tenges and their use is determined by National Bank of Kazakhstan.";

5) in Article 51-1 part four:

word in paragraph four to "measures of settlement of insolvent bank" shall be replaced with words to "instruments of settlement"; the fifth to exclude the paragraph;

6) in Article 51-3:

in Item 1 part two:

the paragraph one and the subitem 1) to state in the following edition:

"The National Bank of Kazakhstan has the right to grant loan to final instance only with the following provisions:

1) borrower is the resident bank of the Republic of Kazakhstan fulfilling the requirements to the minimum values of coefficients of sufficiency of equity and its size established by authorized body on regulation, control and supervision of the financial market and the financial organizations at the time of the appeal of bank behind receipt of loan of final instance, and which is not recognized by authorized body on regulation, control and supervision of the financial market and the financial organizations following the results of assessment of viability of bank insolvent or potentially insolvent, except for Item 5 of this Article;";

add with subitem 1-1) of the following content:

"1-1) bank which addressed for receipt of loan of final instance based on information of authorized body on regulation, control and supervision of the financial market and the financial organizations has no facts of issue of loans to the faces tied with bank the special relations, including on favorable terms in defiance of article 50 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan";";

add with Items 1-1 and 5 of the following content:

"1-1. Before execution of obligations by bank on loan of final instance the bank has no right:

1) to perform investments, to issue loans to the faces tied with bank the special relations;

2) to charge and pay dividends to shareholders of bank;

3) to charge remunerations and bonuses to leading employees of bank.";

"5. The National Bank of Kazakhstan has the right to grant loan of final instance systemically to significant bank to which the settlement mode, or to stabilization bank to which assets and liabilities systemically of significant bank to which the settlement mode according to the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan", only for covering of short-term liquidity deficit is applied in case of observance of the following conditions will be transferred is applied:

acceptances by the Government of the Republic of Kazakhstan or to the national managing director of holding of the decision on share acquisition of systemically significant bank or stabilization bank to which assets and liabilities systemically of significant bank will be transferred;

provisions of the state guarantee of the Republic of Kazakhstan on loans for settlement of systemically significant bank as ensuring obligation fulfillment on loan amount of final instance in full.";

7) in Article 54:

the paragraph the fourth parts one to add with words ", except as specified uses by National Bank of Kazakhstan of money for ensuring completeness of calculations for payments and money transfers in payment systems as which operator the National Bank of Kazakhstan or its affiliated organization acts";

the second to exclude part;

8) in Article 56 part one:

6) to state the subitem in the following edition:

"6) the procedure for monitoring of currency transactions and provision of information on currency transactions and accounts of residents of the Republic of Kazakhstan in foreign banks, international financial institutions, including procedure for assignment of accounting numbers to currency agreements determines submissions of data on the performed currency transactions and accounts of residents of the Republic of Kazakhstan by capital movement, in foreign banks, international financial institutions and provisions of information for the purposes of monitoring of currency transactions;";

add with the subitem 11) of the following content:

"11) requests data, documents and (or) information on realization of internal control of currency transactions by authorized banks for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction.".

10. In the Law of the Republic of Kazakhstan of December 23, 1995 "About mortgage of real estate":

1) in Article 5-2:

in Item 2:

2) to state the subitem in the following edition:

"2) factoring transactions: financing under concession of monetary claim with acceptance or rejection of risk of non-payment;";

add with the subitem 5) of the following content:

"5) acquisition in property of digital financial assets taking into account the restrictions set by authorized body on regulation, control and supervision of the financial market and the financial organizations.";

add item 4 with subitem 6-1) of the following content:

"6-1) release of digital financial assets taking into account the restrictions set by authorized body on regulation, control and supervision of the financial market and the financial organizations;";

add with Item 8 of the following content:

"8. Leading employees of the mortgage organization are persons determined by Item 1 of article 45 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan".";

Item 2 of Article 5-3 to exclude 2);

Heading of Article 5-4 to state 3) in the following edition:

"Article 5-4. Measures of supervising reaction and other measures";

words "the measures of supervising reaction and the sanction provided by the Law" shall be replaced with words "measures of supervising reaction and other measures, the stipulated in Article 83 Laws";

4) in Article 9-1:

in word part one "the subitem 11) of Item 2 of Article 5-1, of part one of Item 3-2 of Article 34, Items 3 and 10 of Article 61-4, the subitem 2) of Item 5 of article 61-11 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan", "About microfinancial activities" shall be replaced with words parts one of subitem 11-2) of Item 2 of article 7 of the Law of the Republic of Kazakhstan "Item 2 of Article 59, the subitem 2) of Item 3 of Article 97, the subitem 11) of Item 1 of article 132 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan", Item 2 of article 3-3 of the Law of the Republic of Kazakhstan "About microfinancial activities";

in word part two "the paragraph the sixth parts two of Item 3 of Article 34" shall be replaced with words "the subitem 5) parts two of Item 6 of Article 57";

The subitem 5) to state 5) to part one of Item 3 of Article 24 in the following edition:

"5) subject of mortgage are the dwelling and (or) the parcel of land with the dwelling located on it.".

11. In the Law of the Republic of Kazakhstan of April 16, 1997 "About the housing relations":

2) parts one of Item 1 of Article 101-5 after words of "construction savings" to add the subitem with the words "in housing construction savings banks".

12. In the Law of the Republic of Kazakhstan of June 30, 1998 "About registration of pledge of personal estate":

in part two of Article 16 of the word "part one of Item 3-2 of article 34 of the Law of the Republic of Kazakhstan "On banks and banking activity in the Republic of Kazakhstan", part one of subitem 11-2) of Item 2 of article 7 of the Law of the Republic of Kazakhstan "About microfinancial activities" shall be replaced with words "Item 2 of article 59 of the Law of the Republic of Kazakhstan "On banks and banking activity in the Republic of Kazakhstan", Item 2 of article 3-3 of the Law of the Republic of Kazakhstan "About microfinancial activities".

13. In the Law of the Republic of Kazakhstan of July 5, 2000 "About financial leasing":

5) of Item 2 of Article 3 of the word "Islamic banks based on the license" shall be replaced with words 1) in the subitem "the banks performing Islamic banking activities based on the corresponding banking license";

Article 15 to add 2) with Item 5 of the following content:

"5. The lessor has the right to attract financing through release of digital financial assets which underlying asset are the rights (requirement) for the agreement of leasing.".

14. In the Law of the Republic of Kazakhstan of December 7, 2000 "About housing construction savings in the Republic of Kazakhstan":

Item 1 of Article 3 to add 1) with part two of the following content:

"For the purposes of this Law housing construction savings banks are understood also as the banks of the second level which do not have the status of housing construction savings bank, performing the activities specified in subitems 1) and 2) of Item 1 of article 5 of this Law based on the banking license obtained according to the bank law of the Republic of Kazakhstan.";

2) in part one of Item 2 of Article 5:

in the subitem 2) to replace the word of "orders" with the word of "instructions";

4) to exclude the subitem;

in the subitem 5) "delivery" to replace the word with the word "provision";

in the subitem 6) of the word "transactions with" shall be replaced with words "transactions with non-cash";

Item 6 of Article 10 to add 3) with part two of the following content:

"Provisions of this Article do not extend to the banks of the second level which do not have the status of housing construction savings bank, performing the activities specified in subitems 1) and 2) of Item 1 of article 5 of this Law based on the banking license obtained according to the bank law of the Republic of Kazakhstan.".

15. In the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity":

1) in item 4 of Article 2:

in part one of figure "26-1," to exclude;

in part two of figure "31-1," to exclude;

2) in Article 3:

3) and 4) to state subitems in the following edition:

"3) control - opportunity to determine decisions of the legal entity or the organization, not being the legal entity, arising in the presence of one of the following conditions:

immediate and (or) indirect possession and (or) use, and (or) the order by one person of more than fifty percent of voting shares, shares, shares or other forms of equity in the legal entity or the organization, not being the legal entity;

opportunity availability at one person directly or indirectly to choose at least a half of structure of governing body or executive body of the legal entity or the organization, not being the legal entity;

inclusion of the financial reporting of the legal entity, except for the financial reporting of the special finance company created according to the legislation of the Republic of Kazakhstan on project financing and securitization, or the organization not being the legal entity, in the financial reporting of other legal entity or the organization, not being the legal entity, according to the audit report;

opportunity availability at one person independently or together with one or several persons to determine decisions of the legal entity or the organization, not being the legal entity, owing to the agreement (supporting documents) or otherwise in the cases established by authorized body;

4) the parent organization - the legal entity (the organization, not being the legal entity) exercising (exercising) control over other legal entity or other organization not being the legal entity;";

add with subitem 4-1) of the following content:

"4-1) show-window of data - the structured data set of the insurance (reinsurance) organization, branch of the insurance (reinsurance) organization - the nonresident of the Republic of Kazakhstan, organized and updated according to requirements of authorized body, intended for storage and transfer in the established format to authorized body for the purpose of supervision of insurance activity (reinsurance) organization, branch of the insurance (reinsurance) organization - the nonresident of the Republic of Kazakhstan and (or) fulfillment of requirements on submission of the reporting;";

subitems 5) to state 6) and 7) in the following edition:

"5) the affiliated organization - the legal entity (the organization, not being the legal entity) in relation to whom, (which) other legal entity or the organization, not being the legal entity, exercises control;

6) indirect possession - opportunity to exert impact on the decision of the legal entity or the organization, not being the legal entity, the large member of the legal entity or the organization, not being the legal entity, and (or) persons who jointly are the large member of the legal entity or the organization, not being the legal entity, through ownership of voting shares, shares, shares or other forms of equity in the legal entity or the organization, not being the legal entity;

7) the organization, not being the legal entity, - the fund, partnership, trust, the company, partnership, the organization or other corporate education created (registered) according to the legislation of foreign state, which are considered as independent forms of business irrespective of whether they have the status of the legal entity in foreign state;";

add with subitem 7-2) of the following content:

"7-2) indirect equity participation - opportunity to determine decisions of the legal entity or the organization, not being the legal entity, the large member of the legal entity or the organization, not being the legal entity, and (or) persons who jointly are the large member of the legal entity or the organization, not being the legal entity, through ownership and (or) use, and (or) the order of voting shares, shares, shares or other forms of equity in other legal entity or other organization, not being the legal entity;";

8) to exclude the subitem;

add with subitem 11-1) of the following content:

"11-1) trust management agreement of the rights (requirements) - the trust management agreement of the rights (requirements) for the agreement of bank loan, to the agreement on provision of the microcredit concluded between service company and person specified in Item 1 of article 63 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" or person specified in part one of Item 5 of article 9-1 of the Law of the Republic of Kazakhstan "About microfinancial activities" or the insurance (reinsurance) organization;";

12) and 23-2) to state subitems in the following edition:

"12) faultless goodwill - professionalism and conscientiousness of person, confirmable including lack of the facts:

making by the specified person of illegal actions (failure to act) which resulted in the insolvency which entailed involuntary liquidation of the financial organization or to application to bank of the mode of settlement;

not removed or unspent conviction of the specified person, including lack of the court resolution which took legal effect about application to person of criminal penalty in the form of deprivation of the right to hold leading employee position of the financial organization, bank and (or) insurance holding and to be the large member (large shareholder) of the financial organization for life;

availability of the relations with the third parties (control and influence of the third parties) whose actions promoted legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction based on data of authorized body on financial monitoring;";

"23-2) insurance group - the group of the legal entities and the organizations who are not legal entities who are not banking conglomerate insurance holding and (or) its affiliated organizations, and (or) the insurance (reinsurance) organization consisting of insurance holding (in the presence) and the insurance (reinsurance) organization, and also the affiliated organizations of insurance holding and (or) the affiliated organizations of the insurance (reinsurance) organization, and (or) the organizations, in which have considerable equity participation.

The national managing holding, insurance holding - the nonresident of the Republic of Kazakhstan, and also the affiliated organizations and the organizations in which insurance holding - the nonresident of the Republic of Kazakhstan has considerable equity participation, being nonresidents of the Republic of Kazakhstan are not part of insurance group;";

25) to exclude the subitem;

26) and 26-1) to state subitems in the following edition:

"26) the large member of the insurance (reinsurance) organization - physical person or legal entity which according to written consent of authorized body has the right:

directly and (or) indirectly to own, use and dispose in total of ten or more percent of voting shares of the insurance (reinsurance) organization, including by means of the derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization;

render directly and (or) indirectly influence on the decisions made by the insurance (reinsurance) organization (to vote) in ten or more percent of voting shares of the insurance (reinsurance) organization owing to the agreement (supporting documents) or otherwise in the cases provided by regulatory legal act of authorized body.

The large member of the insurance (reinsurance) organization are not recognized:

Government of the Republic of Kazakhstan;

national managing holding;

the single accumulation pension fund managing investment portfolio, holding voting shares of the insurance (reinsurance) organization and (or) derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization, at the expense of pension assets;

person performing functions of the nominee holder of voting shares of the insurance (reinsurance) organization and (or) the derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization, and also the issuer of the specified derivative securities;

person having rights only to receipt of dividends and (or) other share yield of the insurance (reinsurance) organization without opportunity to exert impact on the decisions made by the insurance (reinsurance) organization;

the other persons specified in Item 19 of article 9-5 of the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations";

26-1) insurance holding - the legal entity who according to written consent of authorized body has the right:

directly and (or) indirectly to own, use and dispose in total of twenty five or more percent of voting shares of the insurance (reinsurance) organization, including by means of the derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization;

render directly and (or) indirectly influence on the decisions made by the insurance (reinsurance) organization (to vote) in twenty five or more percent of voting shares of the insurance (reinsurance) organization owing to the agreement (supporting documents) or otherwise in the cases provided by regulatory legal act of authorized body.

Insurance holding are not recognized:

Government of the Republic of Kazakhstan;

national managing holding;

the single accumulation pension fund managing investment portfolio, holding voting shares of the insurance (reinsurance) organization and (or) derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization, at the expense of pension assets;

person performing functions of the nominee holder of voting shares of the insurance (reinsurance) organization and (or) the derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization, and also the issuer of the specified derivative securities;

person having rights only to receipt of dividends and (or) other share yield of the insurance (reinsurance) organization without opportunity to exert impact on the decisions made by the insurance (reinsurance) organization;

the other persons specified in Item 19 of article 9-5 of the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations;";

add with subitems 27-1), 29-2) and 29-3) of the following content:

"27-1) service company - the organization for management of stressful assets, the collection agency having within the trust management agreement rights (requirements), powers on trust management of the rights (requirements) for the agreement of bank loan, the agreement on provision of the microcredit including in the relation:

changes of terms of the contract of bank loan, agreement on provision of the microcredit;

representations in court of interests of person with which the trust management agreement of the rights (requirements) is signed;

acceptance from the debtor of money and (or) other property;

other powers provided by the laws of the Republic of Kazakhstan and (or) the trust management agreement of the rights (requirements);";

"29-2) considerable equity participation of the organization - immediate and (or) indirect possession and (or) use, and (or) the order independently or together with one or several persons owing to the agreement (supporting documents) or otherwise in the cases established by authorized body, twenty and more percent of voting shares, shares, shares or other forms of equity in the legal entity or the organization not being the legal entity.

Person having considerable equity participation of the organization are not recognized:

Government of the Republic of Kazakhstan;

national managing holding;

affiliated organizations of National Bank of the Republic of Kazakhstan;

the single accumulation pension fund managing investment portfolio, holding voting shares of the insurance (reinsurance) organization and (or) derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization, at the expense of pension assets;

other persons in the cases provided by this Law;

29-3) large participant - the physical person, the legal entity, the organization, not being the legal entity which directly and (or) indirectly own and (or) use, and (or) dispose of ten or more percent of voting shares, shares, shares or other forms of equity in the legal entity or the organization, not being the legal entity.

The large member of the legal entity or the organization, not being the legal entity, are not recognized:

Government of the Republic of Kazakhstan;

national managing holding;

affiliated organizations of National Bank of the Republic of Kazakhstan;

the single accumulation pension fund managing investment portfolio, holding voting shares of the insurance (reinsurance) organization and (or) derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization, at the expense of pension assets;";

Item 2 of Article 5-1 to add 3) with part three of the following content:

"The conclusion (execution) by residents of the Republic of Kazakhstan of insurance contracts with the state insurance companies - nonresidents of the Republic of Kazakhstan regarding insurance of the credits, investments, transactions connected with crediting of residents of the Republic of Kazakhstan by the foreign organizations or banks is allowed.";

The subitem 11) of Article 10 to state 4) in the following edition:

"11) financial ombudsman;";

5) in Article 11-1:

exclude Item 1-2;

second and third the subitem 7) of Item 2 to exclude parts;

in Item 3:

the second to state part in the following edition:

"The insurance (reinsurance) organization, branch of the insurance (reinsurance) organization - the nonresident of the Republic of Kazakhstan shall place rules of insurance on the Internet resource. The rules of insurance placed on Internet resource of the insurer shall be in urgent condition.";

in part three "voluntary" to exclude the word;

add with Item 9 of the following content:

"9. The insurance (reinsurance) organization in case, stipulated in Item 1 Article 840 of the Civil code of the Republic of Kazakhstan (Special part), delivers in trust management of service company within paid amount the right (requirement) which the insurer (insured) has to person responsible for the damages paid as a result of liability insurance of the borrower according to the obligations arising from the agreement of bank loan, the agreement on provision of the microcredit.";

To add 6) with Article 11-2 of the following content:

"Article 11-2. Consideration of addresses of applicants

1. The insurance company considers the appeals of physical persons and legal entities connected with implementation of insurance activity according to requirements to implementation by insurance company, branch of insurance company - the nonresident of the Republic of Kazakhstan of insurance activity, including in relations with the participants of the insurance market established by regulatory legal act of authorized body.

2. The term of consideration of the address of the applicant shall not exceed fifteen working days from the date of receipt in insurance company.

In need of establishment of the actual circumstances important for the correct consideration of the address, the term of consideration of the address can be prolonged for fifteen working days what the applicant is informed within three working days from the date of prolongation of term on.

3. By results of consideration the insurance company shall send appeals to the applicant the answer (decision) on the substance of its address.

4. The address of the applicant is subject to leaving without consideration in the following cases:

1) in the address the address to which the answer shall be directed is not specified;

2) in the address surname, the name, middle name (if it is specified in the identity document) and its individual identification number or full name of the applicant and his business and identification number are not entered;

3) the address contains obscene or abusive terms, threats to property of insurance company, threat of life, to health and property of her worker, and also members of his family;

4) the address does not give in to reading;

5) the address is submitted by unauthorized person.

In the cases provided by subitems 2), 3), 4) and 5) of part one of this Item, the insurance company within five working days from the moment of receipt of the address of the applicant sends to the applicant the answer with indication of the reasons of leaving appeals without consideration.

5. The applicant who is physical person and (or) small business entity, being insurers (insured, beneficiaries) on all types of insurance, and other legal entities - only on class (type) of compulsory insurance of civil responsibility of owners of vehicles with the amount of requirements which is not exceeding the ten-thousandfold size of the monthly settlement indicator established by the law on the republican budget and operating for January 1 of the corresponding financial year having the right to address the financial ombudsman according to the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations" within pre-judicial procedure for dispute settlement in the following cases:

refusal in satisfaction with insurance company of the property requirement of the applicant or non receipt by the applicant of the answer of insurance company in time, stipulated in Item 2 these Articles;

not achievements of the mutually acceptable decision in case of dispute settlement between insurers (insured, beneficiaries) and insurance companies, arising from insurance contracts, and also between insurance companies.

6. The insurance company represents to authorized body the reporting under the arrived appeals of physical persons and legal entities, the list which forms, terms and procedure for representation are established by regulatory legal act of authorized body.

7. Provisions of this Article extend to branches of insurance company - the nonresident of the Republic of Kazakhstan.";

7) in Article 15-2:

to add heading after the words "in case of the conclusion" with words ", termination and (or) early termination";

in Item 1 of the word "conclusion of insurance contracts" shall be replaced with words "the conclusion, termination and (or) early termination of insurance contracts";

in the subitem 6) item 4:

to state paragraphs of the third and seventh part one in the following edition:

"termination and (or) early termination of the insurance contract;";

"dispute settlements, arising from the insurance contract, for the direction of information on availability of disagreements to the financial ombudsman taking into account the features provided by the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations.";

the second after the word "conclusion" to add part with words ", termination and (or) early termination";

8) in Article 16:

state heading in the following edition:

"Article 16. Requirements imposed to insurance company, insurance broker, the organization guaranteeing implementation of insurance payments to insurers (insured, to beneficiaries) in case of liquidation of insurance companies, the organization for forming and maintaining the database on informing insurers";

in Item 1 of the word", the insurance ombudsman" to exclude;

exclude Item 5;

in Item 7 of the word "the insurance ombudsman," to exclude;

Item 1 of Article 16-2 to exclude 9);

Part the second Item 10 of Article 20 to exclude 10);

Article 26 to state 11) in the following edition:

"Article 26. Insurance holding, large member of the insurance (reinsurance) organization

1. Any person independently or together with other person (other persons) without receipt of the prior written consent of authorized body has no right:

directly and (or) indirectly to own and use, and (or) to dispose in total of ten or more percent of voting shares of the insurance (reinsurance) organization, including by means of the derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization;

exercise control over the insurance (reinsurance) organization;

render directly and (or) indirectly influence on the decisions made by the insurance (reinsurance) organization (to vote) in ten or more percent of voting shares of the insurance (reinsurance) organization.

The requirement established by part one of this Item does not extend on:

Government of the Republic of Kazakhstan;

national managing holding;

the single accumulation pension fund, the managing director of investment portfolio holding voting shares of the insurance (reinsurance) organization and (or) derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization, at the expense of pension assets;

person performing functions of the nominee holder of voting shares of the insurance (reinsurance) organization and (or) the derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization, and also the issuer of the specified derivative securities;

person having rights only to receipt of dividends and (or) other share yield of the insurance (reinsurance) organization without opportunity to exert impact on the decisions made by the insurance (reinsurance) organization;

the other persons specified in Item 19 of article 9-5 of the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations".

Requirements to persons, directly and (or) indirectly owning and (or) using, and (or) disposing in total of ten or more percent of voting shares of the insurance (reinsurance) organization, including by means of the derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization or exercising control over the insurance (reinsurance) organization or rendering directly and (or) indirectly influence on the decisions made by the insurance (reinsurance) organization (voting) in ten or more percent of voting shares of the insurance (reinsurance) organization, and also procedure for receipt by such persons of consent to acquisition of the status of the large member of the insurance (reinsurance) organization or insurance holding by them are established by article 9-5 of the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations".

2. Persons who jointly are the large member of the insurance (reinsurance) organization persons, directly and (or) indirectly owning and (or) using, and (or) disposing in total of ten or more percent of voting shares of the insurance (reinsurance) organization, including by means of the derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization, in the presence of any of the following conditions are recognized:

1) specified persons jointly influence decisions of the insurance (reinsurance) organization owing to the agreement (supporting documents) signed between them;

2) specified persons are separately or mutually large members of each other;

3) one of specified persons authorized other specified person (obliged) to acquire voting shares of the insurance (reinsurance) organization and (or) derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization, according to the agreement signed between them, except as specified, of the broker services connected with rendering, services in management of investment portfolio and (or) services in nominal continence of securities;

4) one of specified persons provided gratuitously money and (or) other property to other specified person for acquisition of voting shares of the insurance (reinsurance) organization and (or) the derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization;

5) one of specified persons is official of other specified person;

6) one of specified persons is the representative of other specified person, except as specified, when the representative acts in strict accordance with instructions of the represented person and has no right to make actions on behalf of the represented person at sole discretion;

7) one of specified persons is close relative or the spouse (spouse);

8) specified persons jointly influence decisions of the insurance (reinsurance) organization otherwise in the cases established by regulatory legal acts of authorized body.

If the insurance (reinsurance) organization is included into banking conglomerate according to requirements of the bank law of the Republic of Kazakhstan, the insurance (reinsurance) organization is subject to the consolidated supervision according to the bank law of the Republic of Kazakhstan.

3. Persons which jointly are insurance holding persons, directly and (or) indirectly owning and (or) using, and (or) disposing in total of twenty five or more percent of voting shares of the insurance (reinsurance) organization, including by means of the derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization, in the presence of any of the following conditions are recognized:

1) specified persons jointly influence decisions of the insurance (reinsurance) organization owing to the agreement (supporting documents) signed between them;

2) specified persons are separately or mutually large members of each other;

3) one of specified persons authorized other specified person (obliged) to acquire voting shares of the insurance (reinsurance) organization and (or) derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization, according to the agreement signed between them, except as specified, of the broker services connected with rendering, services in management of investment portfolio and (or) services in nominal continence of securities;

4) one of specified persons provided gratuitously money and (or) other property to other specified person for acquisition of voting shares of the insurance (reinsurance) organization, including by means of the derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization;

5) one of specified persons is the representative of other specified person, except as specified, when the representative acts in strict accordance with instructions of the represented person and has no right to make actions on behalf of the represented person at sole discretion;

6) specified persons jointly influence decisions of the insurance (reinsurance) organization otherwise in the cases established by regulatory legal acts of authorized body.

4. Are not recognized the large member of the insurance (reinsurance) organization, insurance holding of person, directly and (or) indirectly owning and (or) using, and (or) disposing in total of ten or more percent of voting shares of the insurance (reinsurance) organization, including by means of the derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are the voting shares of the insurance (reinsurance) organization which are acting on the basis of the agreement signed between them providing adoption of joint decisions by them only on questions:

1) convocation of extraordinary general meeting of shareholders of the insurance (reinsurance) organization;

2) appeals to the court with the claim for convocation of general meeting of shareholders of the insurance (reinsurance) organization in case of refusal in its convocation by the board of directors;

3) inclusions of additional questions in the agenda of general meeting of shareholders of the insurance (reinsurance) organization;

4) convocation of meeting of the Board of Directors of the insurance (reinsurance) organization;

5) carrying out audit of the insurance (reinsurance) organization by auditing organization at own expense.

5. If person began to correspond to signs of the large member of the insurance (reinsurance) organization or insurance holding without written consent of authorized body, such person has no right to take any actions directed to rendering influence on the decisions made in the insurance (reinsurance) organization and (or) to vote shares of the insurance (reinsurance) organization, including by means of the derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization until it does not receive written consent of authorized body according to article 9-5 of the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations".

The authorized body has the right to apply the measures of supervising reaction provided by this Law, enforcement powers, the stipulated in Article 53-4 presents of the Law to person corresponding to signs of the large member of the insurance (reinsurance) organization or insurance holding without written consent of authorized body including to demand from the specified person to realize voting shares of the insurance (reinsurance) organization and (or) derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization, no more than six months in time.

6. The authorized body has the right to request the information confirming or confuting data that person corresponds to signs of the large member of the insurance (reinsurance) organization or insurance holding without written consent of authorized body.

The specified information can be requested by authorized body any person having it and also any organization which is under control of such person.

7. The insurance (reinsurance) organization shall notify authorized body on change of list of persons owning in total ten or more percent of voting shares of the insurance (reinsurance) organization including by means of the derivative securities issued according to the legislation of the Republic of Kazakhstan or foreign state which underlying asset are voting shares of the insurance (reinsurance) organization, within fifteen calendar days from the date of establishment of this fact by it.

8. Physical persons - the residents who are large members of the insurance (reinsurance) organization and also their spouses shall represent annually the declaration on the income and property according to the procedure and terms which are established by the tax legislation of the Republic of Kazakhstan.

9. The consent of authorized body to acquisition of the status of insurance holding by bank, the large member of the insurance (reinsurance) organization which shares were acquired when carrying out reorganization by bank in the form of accession according to the procedure determined by the legislation of the Republic of Kazakhstan or is given when implementing the transaction provided by Articles 68, 97 and 98 Laws of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" it is considered issued after registration of transaction in system of registers of security holders (nominal continence).";

Article 26-1 to exclude 12);

13) in Item 1 of Article 27:

5) to state the subitem in the following edition:

"5) the information about founders - physical persons (in the presence of such founders), including the description of the sources and amounts of money used for creation of the insurance (reinsurance) organization.

Sources of means which can be used by physical person for share acquisition (payment of the authorized capital) of the created insurance (reinsurance) organization are determined by Item 7 of article 9-5 of the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations";";

in subitem 5-1) of the word "articles 26 and 32 of this Law" shall be replaced with words "articles 9-5 and 9-6 of the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations";

14) in Item 1 of Article 28:

in the subitem 6) to "article 26-1 of this Law" shall be replaced with words words to "article 9-5 of the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations";

in subitem 6-1) of the word "article 26 of this Law" shall be replaced with words "article 9-5 of the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations";

Article 31-1 to exclude 15);

Articles 32 and 34 to state 16) in the following edition:

"Article 32. Affiliated insurance organization (reinsurance) organization and considerable participation of the insurance (reinsurance) organization in the capitals of the organizations

1. The insurance (reinsurance) organization for the purpose of implementation of the powers conferred to it by article 48 of this Law having the right to create or acquire the affiliated organization only in the presence of preliminary permission of authorized body.

2. Affiliated insurance organization (reinsurance) organization has no right to create and have the affiliated organizations, and also to have considerable participation in the capitals of the organizations.

3. The insurance (reinsurance) organization has the right to create the affiliated organization on condition of profitable activities on the consolidated and unconsolidated bases following the results of each of the last two complete financial years and observance of prudential standard rates, including on the consolidated basis, established by authorized body, within the last three months preceding date of filing of application in authorized body on receipt of permission.

4. The affiliated organization of the insurance (reinsurance) organization, and also the organization - the nonresident of the Republic of Kazakhstan in which the insurance (reinsurance) organization has considerable equity participation shall open to authorized body based on the corresponding request necessary information for the purpose of ensuring high-quality and timely accomplishment of the functions assigned to authorized body on implementation of the consolidated supervision. At the same time the received data are not subject to disclosure.

5. Considerable participation of the insurance (reinsurance) organization in the capital of the organizations is allowed only in the presence of preliminary permission of authorized body.

6. In case of acquisition by the insurance (reinsurance) organization of signs of control or considerable equity participation of the organizations in the absence of preliminary permission of authorized body:

1) has the right to apply authorized body to the insurance (reinsurance) organization of measure of supervising reaction, provided by this Law;

2) the insurance (reinsurance) organization shall within six months from the moment of emergence of signs of control or considerable equity participation of the organization to make alienation of the stocks owned by it, share, shares or other forms of equity in the capital of the organization to the face which is not tied with the insurance (reinsurance) organization the special relations and to submit the documents confirming the specified alienation to authorized body.

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